Being a Landlord
What is Being a Landlord?
Being a Landlord is a long term wealth building strategy for real estate investing. It is the process of buying a rental property you lease to a tenant, that generates cash flow, as well as debt reduction and appreciation. This method is the traditional income property investment method used by real estate investors for hundreds of years.
Being a Landlord Pros:
- Long term wealth creation with the mortgage being paid down and appreciation/inflation increasing the property value
- Monthly passive cash flow when bought correctly
- Huge tax advantages and write-offs
- Good real estate investment management can relieve the astute investor from active daily management of the properties
Being a Landlord cons:
- Tenant and repair issues
- No big chunks of cash unless refinanced or sold
- Cash and/or credit usually needed when buying rental property
- Higher exposure to risk from changing markets or legal issues
Being a Landlord Marketing Advice
Find wholesale properties from real estate wholesalers.Look at online bulletins and newspapers for distressed sellers.Post bandit signs in areas where buying a rental property is ideal.Use post-it Notes, direct mail, and postcards in dense income property investment areas.Realtors who know investing can be a good resource and provide potential deals through the MLS (Multiple Listing Service).Focusing marketing efforts in nearby areas (farming) can make buying a rental property easier if you plan on doing the management yourself when being a landlord.
Landlord Guide – This is why you came to Smart Lazy Investor. Here we share with you the best way to get started being a landlord from the leading real estate investors and educators.
Landlord Resources – These are the tools you need in your income property investment business to save you time, money and headaches, and allow you to focus more on doing deals.
EZ Landlord Forms – These are all the contracts you will need to get started being a landlord.
Landlord Videos – Here are some great videos on income property investing you could have stumbled across on your own, but it is much easier to have them handed to you without wasting hundreds of hours watching crappy sales pitch videos.
Being a Landlord
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